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FOR IMMEDIATE RELEASE
Leading Provider of Global Financial Data and Index Services
July 18, 2008 - Charlotte, North Carolina – Carousel Capital announced today its acquisition, in partnership with company management, of Mergent, Inc., a leading provider of critical business and financial data on global publicly listed and private companies. Based in Fort Mill, SC, Mergent provides data to reference libraries, business informatics providers and investment professionals around the globe. Mergent was acquired from Xinhua Finance Limited, China's premier financial information and media service provider.
Founded in 1900 as the original publisher of Moody’s® securities manuals, Mergent operates the longest continuously collected database of: descriptive and fundamental information on domestic and international companies; pricing and terms and conditions data on fixed income and equity securities; and corporate event data. Mergent delivers this data to its customers via customized data feeds, online user interfaces and printed publications. In addition, Mergent develops and licenses equity and fixed income investment products based on its proprietary investment methodologies. Mergent-licensed products have several billion dollars in assets under management and are offered by major investment management firms. Mergent’s index calculation platform is the chosen technology for some of the world’s largest index companies. Its index calculation and pricing distribution protocols are used to administer index rules and distribute real-time pricing data.
Carousel Capital is partnering with the current management team of Mergent, which is led by CEO Jonathan Worrall, in the acquisition of the company. Following the transaction, Mr. Worrall and the management team will have significant ownership in the business.
"We are extremely excited about our new partnership with Carousel Capital,” said Worrall. “Carousel’s experience in our sector and strong support for our objectives will help us capitalize on our position in the industry and maximize our growth opportunities."
"We feel fortunate to have partnered with Jonathan and his management team in acquiring Mergent,” said Charles Grigg, Partner of Carousel Capital. “Mergent’s unique and proprietary data assets and financial index calculation capabilities have created a strategic asset in an attractive market with multiple avenues for growth."
Carousel Capital funded the transaction with equity from its third investment fund, Carousel Capital Partners III. Financing for the transaction was provided by Goldman Sachs Specialty Lending Group, LP. Latham & Watkins LLP served as legal advisor to Carousel Capital.
About Carousel Capital
Carousel Capital is a private investment firm that invests in companies located in the
Southeastern United States. Carousel’s investor base includes institutional investors and a group
of more than 100 current and former CEOs with significant operating experience. Since its
inception, Carousel has invested in 26 companies primarily in three targeted growth sectors:
business services; consumer products and services; and healthcare services.
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